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Volume 15 | Issue 193 | Wednesday, October 05, 2016

The Lede


Mortgage Applications Up in MBA Weekly Survey

Mortgage applications increased as key interest rates fell to a three-month low, the Mortgage Bankers Association reported this morning in its Weekly Mortgage Applications Survey for the week ending September 30.


Top National News

Mortgage Bankers Association of the Carolinas Postpones Annual Convention Due to Hurricane Matthew

HousingWire, Oct. 4, 2016--Lane, Ben

MBAC 61st Annual Convention and Trade Show was set to begin Tuesday, with continuing education events scheduled to begin Oct. 4 and other convention events set to begin Wednesday morning.

Court Orders U.S. to Release Documents on Mortgage Giants

New York Times, Oct. 4, 2016--Morgenson, Gretchen

Federal judge said goverment improperly withheld documents from investors who sued goverment over decision to seize profits of Fannie Mae, Freddie Mac.

BofA to Terminate Mortgage Origination Arrangement with PHH

Philadephia Business Journal, Oct. 4, 2016--Blumenthal, Jeff

PHH said Bank of America sent written notice on Sept. 27 that it would be exercising its right to terminate, without cause, the agreement between PHH and Merrill Lynch, effective March 31.

Appraisal Volume Trudges Through September

HousingWire, Oct. 4, 2016--Swanson, Brena

National Appraisal Volume Index from a la mode showed only one week of increases during September.

Harlem Clergy Enter Mortgage-Reform Fray, Saying 'Our Loans Matter'

Politico, Oct. 4, 2016--Woellert, Lorraine

Dozens of New York Baptist ministers have joined the fray over Fannie Mae and Freddie Mac, saying efforts to privatize the mortgage giants could deliver a financial blow to communities of color in a time of growing wealth inequality.

Fed Study: Minority Mortgage Applicants Held Back by Lower Credit Scores

Wall Street Journal, Oct. 4, 2016--Androitis, Annamaria 

A decline in lending to minorities over the last decade is largely due to their lower credit scores, a new Federal Reserve report said.

Mid-Level Managers Appointed at Mortgage Firms

Mortgage Daily, Oct. 5, 2016--Garcia, Sam

Recent mortgage-related executive activity.

Sharp Drop in Annual Mortgage Refinances Predicted

Mortgage Daily, Oct. 4, 2016

iEmergent says total 2016 originations expected to be $1.8 trillion.

Manhattan Apartment Sales Plunge 20%

Bloomberg, Oct. 4, 2016--Carmiel, Oshrat

There are a lot more apartments available for purchase these days in Manhattan. And fewer people are buying.

Old CMBS Bubble Is Resurfacing

National Mortgage News, Oct. 4, 2016--Fest, Glen; Bisby, Allison

More than $100 billion in securitized commercial mortgages come due soon, many of them still underwater.

Small Banks Shrinking Away From Commercial Real Estate

The Real Deal (New York), Oct. 4, 2016--Brenzel, Kathryn 

Small banks are retreating from financing commercial real estate as federal regulators ramp up scrutiny of such lending.

Equifax's New Credit Program Will Take a Deeper Look at Your Payment History, Oct. 4, 2016--Brancaccio, David

Equifax launched an updated credit score program that focuses on "trending data" to render a more accurate picture of an individual's reliability as a borrower.

U.S. Housing Market Recap: August Sales Cool but Trend Still Positive

GoRion, Oct. 4, 2016--Bourgi, Sam 

Home sales cooled at the end of summer but the underlying trend remained solid as builder confidence reached 11-month highs.

Fed's Lacker Wants Central Bank to be 'Preemptive' Like 1994

MarketWatch, Oct. 4, 2016--Robb, Greg

The Federal Reserve should adopt a strategy of raising interest rates before inflation moves higher like it did in 1994, Richmond Fed President Jeffrey Lacker said Tuesday.

U.S. Retail Group Expects Pickup in Holiday Sales

Reuters, Oct. 4, 2016--Bose, Natalie

Consumers, bolstered by job growth and disposable income, likely to loosen purse strings this fall, National Retail Federation said.

Residential Finance News

MBANow Videos Tout Importance of Industry Activism

'The Most Basic, Most Powerful Tool We Have'

Residential Briefs

News from Freddie Mac, ARMCO, NTC, Urban Institute, First American, Credit Plus, LendingQB, ClosingCorp, DocMagic, MetaSource

Commercial/Multifamily News

HUD Launches Utility Benchmarking To Increase Energy, Water Efficiency

First Outlined in Administration's Climate Action Plan

Dealmaker: Dockerty Romer & Co. Arranges $44M

Two-Year Floating; 10-Year Fixed Financing

MBA News


About MBA Newslink

President and CEO: David H. Stevens, CMB

Publisher: Marcia Davies, Chief Operating Officer

Vice President of Public Affairs: John Mechem

Editor: Mike Sorohan 202/557-2855 

Editorial Director: Michael Tucker 202/557-2851 

Senior Editorial/Advertising Specialist: Lesley Hall 202/557-2856

Advertising Opportunities: Bill Farmakis 203/834-8832

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